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February26, HBIS Duferco executive management team presented the performance of the company to HBIS Chairman Liu Jian. He emphasized the concept and operate model could be improved to cope with changing market. The teams should improve their profits and create more value. Duferco could be an extraordinary international corporation.

Liu Jian gave high remarks for the great efforts of Duferco and said facing turbulent market in the globe, every Duferco executive and employee had paid to efforts in their position, giving excellent performances to the group.

Liu Jian emphasized both concepts and business model could be adapted to make higher profit level and value of the enterprise. World economy is facing more uncertainty and steel industry having great difficulties. Duferco should actively adopt feasible strategies in the markets. We should have better understandings, make higher profits and better future. The board should well study and carefully set performance goal of the new year and annual plan, while, following the changing environment and business model, reforming internal control system and risk control. The company should follow management regulations and adopt efficient decision making procedures, protecting company interests. The principle of Responsible Executive Must Take Responsibilities, should be followed and Projects must be key in investment studies and performance valuations. The company should balance the interests of shareholders and employees, while cutting cost the improving profitability to create value for shareholders and employees. HBIS will provide Duferco with friendly environment and great supports. Duferco, also should engage new development and gather all great thoughts to win its position in intense market competition.

HBIS Supervisor, HBIS M&A Department, HBIS Duferco Office executives and Duferco executives were also in the meeting.